Posted on Jul 5, 2008
I read this in the LA Times this morning about these huge mansions that are being built in LA. Anyone who assumed that the construction of mega-mansions would grind to a halt as the economy worsens must not be familiar with the customs of the very rich.
"Does anybody need 40,000 square feet?" asks real estate agent Stephen Shapiro of the Westside Estate Agency. "No, but these are our current-day aristocrats and feudal leaders . . . and this is what they want."
Real estate experts give various explanations for the continuing popularity of mega-mansions including people spending more time at home and the need for comfort. Real estate agent Drew Fenton said that no one sets out to build a mega-house; it just "happens."
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